Are you not ready to sell your Hilton Head home yet? Consider renting out your investment property instead.

It’s important to understand that being a landlord is more complicated than simply finding tenants and cashing out rent checks. You need to have the right skills and knowledge to keep your tenants happy and maximize your income. 

If you’re a first time landlord or a landlord juggling multiple responsibilities, consider partnering with an experienced property management team like AIM Real Estate Management. When it comes to renting out your home, our property managers know the best strategies to use. 

The following tips should help you get started on the right foot. 

Other key responsibilities you have as a landlord include:

• Finding tenants for your rental property when it becomes vacant. 
• Collecting rent payments when they’re due. 
• Maintaining the unit. 
• Enforcing the terms of the lease agreement. 
• Filing taxes during the tax season. 
• Handling tenant issues. 

Know Your Legal Obligations. 

We suggest you familiarize yourself with federal, state, and local laws when renting out your Hilton Head Island property. The following are a few examples pursuant to South Carolina landlord tenant law (South Carolina Code Chapter 40). 

• Eviction law – while you have a right to evict a tenant for violating the lease, you need to do so in accordance with the law. 
• Security deposit law – This law governs the collection, handling, and return of tenant security deposits. For instance, in South Carolina, you need to return your tenant’s deposit within 30 days of them moving out. 
• Fair Housing law – The Fair Housing Act prevents landlords from discriminating against tenants based on protected classes. The protected classes in South Carolina include race, color, nationality, religion, sex, and disability. 
• Tenant privacy law – You need to notify your tenant at least 24 hours prior to an intended entry. 



Prepare Your Home for Renting. 

Quality tenants seek quality rental premises. To attract ideal tenants to your Hilton Head Island rental property, you’ll need to make sure it looks its best. 

A few home improvements you might do to attract prospective renters include:

• Repainting the property’s walls. 
• Pressure washing the pavements. 
• Depersonalizing the space. 
• Installing amenities, such as a dishwasher. 
• Making necessary repairs. 
• Sprucing up the curb appeal. 

We suggest using professional services wherever necessary. 

Charge the Right Rent Amount. 

You need to charge the perfect rental amount. The right amount is one that will attract quality tenants while maximizing your income. The goal here is to avoid overcharging or undercharging tenants. Overcharging will make your property less desirable, whereas undercharging will mean less profit for you. 

To charge the right rental amount, you’ll need to conduct a comparative market analysis. Look at similar property listings in the area to see the average rental price. Make sure to factor in any unique qualities of your rental property when setting a rent price. 

If you’re just getting started however, your best bet is to hire a professional to help you with pricing your unit. 

Begin the Marketing Process. 

When marketing your Hilton Head Island property, the goal is to reach as many prospective tenants as possible. This way, you’ll have a bigger pool of applicants to choose from and can more easily find your ideal tenant.

Create a personalized ad describing what makes your rental unit stand out from the rest. Make sure to include quality photos of all key areas of your unit in the listing as well.

Distribute your ad through social media, local classifieds, and top rental listing sites. Monitor the performance of your ad and make necessary adjustments until you reach your goal. 

Have a Tenant Selection System. 

You don’t just want to rent to any tenant that shows interest in your property. The ideal tenant is one that can pay the rent without issues, care for your premises and abide by all terms of the rental agreement. 

To find this ideal tenant, you’ll need to have a thorough tenant screening process. Use it to qualify tenants based on their income level, credit rating, rental background and employment background, among other things. 

Draft a Proper Lease Agreement. 

The best way to protect your investment property is by having a foolproof lease agreement. A lease agreement is a legally binding document between you and your tenant. It’ll help you spell out the expectations you have of your tenant, thereby minimizing any potential confusion in the future.

For instance, you can use the lease to outline your policies regarding pets. You can specify the maximum number of pets a tenant can have and the size of a pet a tenant can keep. 

In A Nutshell: Renting Out Your Hilton Head Home

While becoming a landlord can be lucrative, you’ll need to invest your time and energy in order to be successful. For expert help in managing your Hilton Head rental property, partner with AIM Real Estate Management. 

We’re an experienced property management company who value credibility, reliability and integrity. Get in touch with our professional property managers today by dialing (888) 344-4246 or (888) 920-7881.